KN (AB Klaipedos Nafta), Larvik Shipping (LS), and Mitsui OSK Lines Ltd. (MOL) have signed a memorandum of understanding to conduct a feasibility study for a liquefied carbon dioxide (CO2) project that could be implemented using existing CN infrastructure in Klaipeda.
The entire concept of the liquid carbon dioxide value chain in Lithuania, and potentially in the Baltic region, will be evaluated for this purpose, with the port of Klaipeda serving as the focal point.
Global energy systems are changing in order to help meet the challenges posed by climate change. Carbon capture, transport, and storage (CCUS) is a technological solution that contributes significantly to a long-term energy future. It is seen as critical in the context of the European Green Rate in order to achieve the goal of a zero-emission economy by 2050.
Several CCUS projects are currently underway in Europe, with a clear commitment to developing an environmentally and economically viable emission capture solution for more difficult-to-decarbonize industries.
In 2020, Lithuania will be the only country to host the event. Around 6 million tonnes of CO2 were emitted from installations covered by the European Emissions Trading Scheme (ETS). This necessitates the development of the most appropriate carbon management solutions for the local market. Lithuanian Republic 2021–2030 Carbon capture is one of the promising areas for further research in Lithuania, according to the National Energy and Climate Action Plan.
The main goal of the feasibility study that the CN is conducting with partners is to find the best solution for carbon dioxide export to one or more CO2 recovery or disposal sites in Europe. The study also considers the potential of blue hydrogen production as an important and necessary solution for achieving a zero-emission economy in the future.
KN will contribute its accumulated knowledge and competencies gained during the construction and operation of oil and LNG terminals in Klaipeda to this feasibility study, which will assess the function that this infrastructure could perform using CCUS technology.
Larvik Shipping and MOL are collaborating closely to speed up the liquefied CO2 business and contribute to a cost-effective and practical maritime logistics solution. These partners will contribute to the CCUS value chain logistics study as part of the feasibility study.
The CN joined the establishment of the Lithuanian Hydrogen Platform, which brings together representatives of business and state institutions for joint carbon dioxide management initiatives, after assessing the importance and synergies of the hydrogen and carbon markets. As a result, the findings and insights from the CN’s and partners’ feasibility study could help speed up the production of climate-friendly hydrogen from fossil fuels.